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Jewelers See Bright Year Due to Expo

2010. 6 February

( Jewelers in China are banking on 2010 World Expo to boost revenues by introducing licensed Expo diamond and jade pieces.

Twelve jewelers, including Shanghai Laofengxiang Co, Shanghai Lao Miao and Chenghuang Jewelry, joined the team of licensed Expo merchants to offer souvenir jewelry made of the precious stones. Sales of Expo precious metals products have already proven popular.

The Diamond Administration of China is coordinating with Expo organizers to introduce more diamond jewelers as licensed Expo merchants.

"The Expo is a golden opportunity for domestic jewelers to promote products," said Li Mu, vice chairman of the diamond administration. "We're helping jewelers seize the opportunity and spreading awareness about the beauty of diamonds and jade."

More than 70 million visitors are expected to visit the Expo from May to October, creating strong potential for businesses to link their products to the Expo.

Shanghai Laofengxiang said it expected sales of Expo jewelry, including diamond, gold and silver products, to top 2 billion yuan (US$293 million), 1 billion yuan of which would be made this year.

"The Expo is a key part of our work this year. About 10 percent of our nationwide revenue is expected to be generated by Expo jewelry this year," said Lu Jixin, who is responsible for Laofengxiang' Expo products., an online diamond jeweler, has an ambitious target of up to 300 million yuan in sales for Expo jewelry.

"Sales of about 100 million yuan is our bottom line target this year," said Stone Xu, co-president of "We're very confident about Expo products."

Gold and silver were the first precious metals to be used for Expo souvenirs in 2008. The market responded favorably to the products.

China Golddeal Investment Co, a subsidiary under China's currency and coin manufacturer, was among the first licensed partners to introduce such Expo products. Its Expo sales had topped 1 billion yuan by the end of 2009 after launching Expo gold bars and other souvenirs in early 2008.

Total Expo sales of 3 billion yuan are expected by the end of this year, said Jerry Gu, who runs the retail department of China Golddeal.